ITR filing

Fayaz (Accountant) (46 Points)

29 October 2020  
I have friend who has done the money transfer business for fy18-19 now he has received the IT dept notice to file the ITR for fy 18-19 and 19-20. my query is how to account this transactions as the money received are to be paid to beneficiaries? if we show this as business income do we need to prepare the p&l&BS for same?